The global hematology instrument market size was significantly large in 2022, and is expected to continue to register a rapidly inclining revenue CAGR between 2023 and 2032. Key factors responsible for driving market revenue growth are technological advancements in the field of hematology instruments and rising need to keep record & count of blood cells, disease warning systems, & detection of rare blood disorders.
Hematology is the branch of medicine that studies blood and how it affects one\’s general health. Hematology tools are used in a variety of contexts to do blood counts, identify proteins & enzymes, and aid in the diagnosis of illnesses and genetic abnormalities. Infection, anemia, inflammation, hemophilia, autoimmune conditions, leukemia, and the body\’s response to chemotherapy treatments are some illnesses that can be evaluated with hematology instruments. Tests might be routine and consistent, or these can be required to diagnose significant illnesses in an emergency.
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Flow cytometers, coagulation analyzers, analyzers, and slide stainers are among the instruments. Hematology analyzers aid in the diagnosis of anemias, malignancies, genetic disorders, diabetes, infections, and viruses, as well as the determination of plasma drug levels, both medicinal and illicit. Flow cytometers are machines that count blood cells and look for biomarkers that signal organ failure. Coagulation analyzers measure the time it takes for blood to clot, thereby allowing blood thinning medicines to be monitored. Slide stainers create and stain slides from a blood sample automatically.
Major Factors Driving Growth of The Global Hematology Instrument Market:
Revenue growth of the global hematology instrument market is significantly driven by rising health concerns among people and high demand for disease detection. Automation can now able to detect small cellular components in order to detect rare blood disorders, which requires less labor, provides faster results, and needs easy-to-use analyzers. Hematology analyzer automation, electrical resistance, flow cytometry, and fluorescence flow are some examples of current technologies. Use of these technologies has improved the productivity and outcome of test findings. Because of technical advancements in illness detection and increased demand for preventive diagnosis & treatment monitoring, test number or the number of tests run, is expected to further bolster market growth.
Factors Restraining Growth Of The Global Hematology Instrument Market:
The global hematology instrument market growth is substantially hampered by several unfavorable factors. Many laboratories are still unable to buy expensive instruments, especially in developing countries worldwide. As a result, low-volume laboratory analyzers that are both price effective and simple to use are required. Also, it will further lead to an increasing cost of tests conducted using hematology instruments. Moreover, high maintenance requirements of hematology testing instruments may further impede market growth.
Opportunities For Players Operating In The Global Hematology Instrument Market:
Focus of healthcare facilities on the growing use of point-of-care hematology analyzers in emerging economies, introduction of technologically improved hematology instruments, growing demand for automation, and availability of a wide range of services from major hematology service providers are factors expected to continue to open up lucrative business opportunities for major players and new entrants in the market. Furthermore, rising demand for hematology instruments is another factor expected to continue to support market growth in the near future.
Global Hematology Instrument Market Revenue Led By Product Type Segment:
Based on product type, the hematology reagents segment is expected to reach the highest revenue share over the forecast period. Substantial technical improvements and availability of diverse & advanced technology are key factors driving growth of this segment.
Global Hematology Instrument Market Leading End-use Segment:
Based on end-use, the hospitals and clinics segment is expected to dominate all other segments in terms of revenue generation over the forecast period. Major factors contributing to this segment’s growth are rising health concerns among people, detection of small cellular components in order to detect rare blood disorders, and rising need to detect various chronic diseases.
North America Accounts For Largest Revenue Share In Global Hematology Instrument Market:
Among regional markets, North America emerged as the largest market for hematology instruments in 2020, with the highest revenue share. This is due to high average selling price of automated hematology analyzers, rising demand among surgeons for technologically advanced diagnostic instruments with increased specificity & precision, and favorable coverage for in-vitro diagnostic procedures in the region under the Clinical Laboratory Improvement Amendments.
Asia Pacific Continues To Lead In Terms Of Revenue CAGR:
The Asia Pacific hematology instrument market is expected to register the fastest CAGR over the forecast period. Rapid urbanization, significant rise in construction of hospitals & health care centers, and increasing government investments in the healthcare sector, particularly in developing countries including India, China, Malaysia, and Indonesia are major factors driving the Asia Pacific hematology instrument market growth. Also, rising public concerns for early detection of diseases would further contribute to market growth.
Major Companies Profiled In The Report:
- Sysmex Corporation
- Danaher Corporation
- Nihon Kohden
- Boule Diagnostics
- Bio-Rad Laboratories
- Drew Scientific
- EKF Diagnostics
- Ortho Clinical Diagnostics
Strategies And Objectives Of Major Companies:
- In July 2019, Trivitron Healthcare took another step forward in offering cost-effective diagnostic solutions. It launched the super-efficient clinical chemistry analyzer ‘Nanolab 200\’ and the 5 part differential hematology analyzer to expand its Indian health technology business.
- In September 2020, Agappe Diagnostics ltd., in collaboration with L&T Technology Services Limited., introduced Mispa count X, the first blood cell counter developed indigenously. It can be set up in remote locations in rural areas to make people self-reliant.
- In January 2021, two organizations, namely, Roche and Sysmex, agreed to leverage their respective IT platforms to improve customer experience in the short to mid-term, with a longer-term goal of using the IT systems to improve clinical decision making.
What Our Report Provides And Why Our Offering Is Better:
This report offers historical data points and forecasts and revenue growth at a global, regional, and country level, and provides analysis, industry trends, and consumption pattern details for each region, major country, and segment from 2023 to 2032. The global market report includes industry trends, drivers, restraints, opportunities, threats, market strategies, segment revenue, and market share contribution by each regional and country market. In addition, the report offers industry analysis and competitive landscape, company financials, and impact analysis. The report includes a detailed view of the global market, along with changing dynamics and trends, scenarios, detailed market and regional segmentation, regional landscape, analysis and evaluation, major investments, product offerings, product launches, and details of historical, current, and projected revenues.
Detailed Segmentation In Our Report:
For the purpose of this report, global hematology instrument market is segmented on the basis of product type, instrument, end-use, and region:
Product Type Outlook (Revenue, USD Billion; 2023-2032)
- Hematology Instruments
- Hematology Reagents
Instrument Outlook (Revenue, USD Billion; 2023-2032)
- Flow Cytometers
- Coagulation Analyzers
- Slide Stainers
End-use Outlook (Revenue, USD Billion; 2023-2032)
- Hospital & Clinics
- Diagnostic Laboratories
Region Outlook (Revenue, USD Billion; 2023-2032)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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